Yearly Archives: 2020

Buying vs Leasing, Which is Better?

Posted on August 31, 2020 in Around the Web ,Improve Financial Management ,Solutions360 by

The most important distinction between buying vs leasing is how the finance charges are paid. If you have ever bought a house or a car, or started a business, you likely have experience with loans. A question you or your customer may be wondering is when to lease and when to buy using a loan? In this blog, we will compare the two. A loan is ideal for collateral you want to own at the end of the term; something that holds its value past […]

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Solutions360 Joins NSCA As a Sponsor for 2020 P2Pv

Posted on July 28, 2020 in Blog ,Industry Discussion by

Solutions360 leads business transformation discussions throughout NSCA’s 2020 Pivot to Profit Virtual (2020 P2Pv) thought-leadership campaign. Newmarket, ON, July 28, 2020 — Solutions360 is proud to announce its sponsorship of NSCA’s 2020 Pivot to Profit Virtual event (2020 P2Pv), a year-long initiative that will help integrators through business transformation conversations at a critical market juncture. To support integrators as they evolve in a constantly changing market, Pivot to Profit began in 2016 as a two-day event focused on all-important business-transformation strategies, such as shifting to […]

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Project-Based Financial Concepts for Integrators

Posted on June 22, 2020 in Improve Financial Management ,Increase Project Profitability ,Industry Discussion ,Solutions360 by

Recently, our CEO, Brad Dempsey, joined Brad Malone on the Navigator podcast. This episode is part of Navigate Academy Module 4 Project-Based Financial Concepts In terms of maturity, Solutions360 sees a wide range of integration companies. “We see the complete gamut of maturity,” says Dempsey. “It really runs from lifestyle businesses – small businesses started by somebody who had a passion or a skill with an opportunity to do something – all the way up to very professional companies that are even ISO certified.” “If […]

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Labor Burden Is a Crucial Concept for Running a Profitable Integration Business

Posted on June 8, 2020 in Business Process Improvement ,Improve Profitability ,Q360 by

If you hear the term “Labor Burden” and you want to glaze over a bit, don’t Understanding Labor Burden, as applied to the direct hourly cost of your billable labor (Technicians, Engineers, Programmers, Project Managers, etc.), may just change your business. Labor burden is a crucial concept in running a profitable company.  It helps managers understand the true costs and resulting profitability of people, projects and departments.  It helps to determine how you should be pricing your labor, and when to hire more when needed. […]

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Make Your Scope of Work Statements Stand Out

Posted on June 1, 2020 in Around the Web ,Business Process Improvement ,Industry Discussion by

Good Scope of Work Statements Establish Boundaries and Responsibilities A well-defined and communicated scope statement is one of the primary methods of managing a client’s often-changing expectations of what they will ultimately receive from a project. This is developed during the proposal phase of the project — initiated as part of the sales cycle — and is included within the more comprehensive scope of work document. There are really two types of scope of work statements, each serving a different purpose in clarifying the scope […]

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Don’t Be a Cash-Blind Owner Part 3: Cash Burn Rate

Posted on May 11, 2020 in Around the Web ,Blog by

This is the final installment in our blog series about cash flow management, and cash-blind owners. What are cash-blind owners, you wonder? Simply put, they are integration firm owners who are completely oblivious to the monthly cash flow activity of their business. To determine whether you fall into this category, you can ask yourself whether you know the answers to these three questions: Do you know your company’s days sales outstanding (DSO)? Do you watch your company’s sources & uses(S&U) of cash? Do you know your monthly […]

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Video Demo: Q360 Cash Flow Forecasting Dashboard

Posted on May 4, 2020 in Business Process Improvement ,Improve Financial Management ,Q360 ,Solutions360 by

We are excited to release the newly updated cash flow forecasting dashboard in Q360 Why is cash flow forecasting important? The object of cash flow forecasting is to compare how much cash you receive each month to how much cash you must disburse. Solutions360’s new worksheet tool will help you to forecast both sides of this equation. This month-by-month look forward can help integrators manage growth, as well as predict any impending cash flow crisis. 7 Tips for accurate cash flow forecasting in your integration […]

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